Asia dominates cryptocurrency growth, while the United States has entered the race with greater determination. Europe, instead of chasing expansion, has concentrated on detailed regulation. Bitcoin, once worth only cents in 2009, now trades near $120,000, reflecting the dramatic rise of digital assets. Designed as an alternative to state-controlled systems, cryptocurrencies have become mainstream, attracting investors, institutions, and regulators.
The EU addresses this through MiCA, a directive demanding separate customer holdings, regular audits, registration fees, and full transaction traceability. Regulators argue these measures create safety and consistency. Yet industry specialists warn the rules could burden companies, slow progress, and reduce Europe’s appeal for innovators. While aiming for order, the framework may undermine growth.
Poland’s Strict Draft Poses a Threat
Poland plans to implement laws even stricter than MiCA, sparking concerns of overregulation and excessive fees. Experts warn such a framework risks suffocating fintech startups and making some business models unprofitable. With short transition periods, adaptation becomes even harder.
Zondacrypto, founded in Poland, shifted operations to Estonia, which offers smoother licensing and lower barriers. Most employees still work in Poland, but taxes now benefit Estonia. Industry leaders argue policymakers in Warsaw view crypto as risk rather than opportunity, missing a chance to create a strong domestic sector.
Divergent national approaches within the EU complicate efforts to build a unified market. Unless rules become balanced and supportive, European firms may lose ground to global competitors, while innovation and tax revenues move abroad.
